Attachment D - Lease Abstract Sample.pdf

Prospectus Lease Abstract

Department of Veterans Affairs PXX-XX-VAXX [City, State]

Project Summary The General Services Administration (GSA) proposes an outpatient clinic lease of approximately [X] net usable square feet (NUSF) for the U.S. Department of Veterans Affairs (VA) in the vicinity of [City, State].

The lease will be delegated to VA, provide continued services for the [market name] Veteran community, and provide the necessary expansion services to meet current and projected service delivery gaps for healthcare in the local market.

Anticipated Type of Lease Replacement

Current Lease(s) & Expiration(s)

[Enter address and expiration date]

Proposed Term [X] Years

Delineated Area North: [enter north side of DA boundary] East: [enter east side of DA boundary] South: [enter south side of DA boundary] West: [enter west side of DA boundary]

Development of Delineated Area

See uploaded heat map w/ enrollee population and projected market enrollment.

Square Feet Current NUSF: W Current RSF: X

Proposed NUSF: Y Proposed RSF: Z

Space Breakout Space Type Classification NUSF

NUSF to GSF Factor GSF

Distribution

Type 1 X 35% X X% Type 2 X 35% X X% Type 3 X 35% X X% Type 4 X 35% X X%

Total X 35% X X% Type 1 + Type 2 X 35% X X%

Type 1 = Specialized medical space (most expensive) Type 2 = Medical space Type 3 = Mostly non-medical space above office grade Type 4 = Office grade space (least expensive)

Parking Official – X

Personnel Current: X Clinical FTEEs: X Non-Clinical FTEEs: X

Proposed: X Clinical FTEEs: X Non-Clinical FTEEs: X

Clinic Stops 2024 2029 2034 2044 Change (2024- 2044)

Ambulatory Procedures

X X X X X%

Ambulatory Services

X X X X X%

Mental Health Stops

X X X X X%

Mental Health Services

X X X X X%

*Data reflects workload for VISN X, [name of market] market; Pharmacy and Laboratory and Pathology Stops are excluded.

Rent Current: $X

$X/NUSF

$X per year

Proposed: $X

$X /NUSF

$X per year

Market Rate Discussion Unadjusted

Market NNN Rent

RSF to NUSF Conversion

Adjustment to prepare space for medical use

Parking Adjustment per NUSF

Shell Rent per NUSF

(Not Inflated to Est.

Construction Complete)

Shell Rent per NUSF (Inflated to Est.

Construction

Complete)

Taxes, Insurance, Maint. and

Repair Reserves, and Management

Unserviced Rent per

NUSF

$X.XX $XX.XX $XX.XX $X.XX $XX.XX $XX.XX $XX.XX $XX.XX

Based on CoStar® market research of the [City, State] market conducted in [month year], the full-service rent per rentable square feet (RSF) for the office comps ranged from $xx.xx - $yy.yy with an average NNN rental rate of $ZZ.ZZ NNN RSF. Attachment 1 under the tab titled Rental Rate Buildup Summary provides the lease market reports obtained through CoStar and/or Moody’s and the average rental rate calculation.

Following the determination of the average NNN rental rate per RSF for office for the Broward County area, a number of adjustments and conversions were made to calculate an unserviced rental rate based on net usable square feet (NUSF) for an Outpatient Clinic for Veterans Affairs (VA) in the [City] area. The adjustments to the rental rate and conversion to NUSF are outlined in the subsequent paragraphs.

A. Rental Square Feet (RSF) to Net Usable Square Feet (NUSF)

Conversion: Commercial rents are quoted in rentable square feet (RSF). Therefore, the next adjustment was a conversion from RSF to NUSF. The rental rate per RSF was multiplied by a factor of 1.15 to convert from RSF to NUSF. This conversion factor is recommended by VA (its senior resident engineers and planners) for space planning purposes for VA’s lease requirements. The conversion rate assumes an efficient single tenant building.

B. Adjustment to Prepare Space for Medical Use: In order to prepare the space for medical use a factor of 116.8% was applied.

This adjustment accounts for the specific heating, ventilating, and air conditioning, lighting, plumbing, ceilings, elevators, and interior walls required for medical use. This calculation and the assumptions are verified as recommended space planning factors for VA’s lease requirements by VA senior resident engineers and planners based on historical VA planning data.

[City, State]

Other Identified Costs Estimated Real Property Upfront Costs: $X FY202X Budget Request: $X

Date Upfront Funds Required

Real Property Funds: FY2X

Project Justification The proposed lease would allow the Department to continue to provide Veterans access to high-quality, reliable health care in the [City] area. A new lease would also provide future flexibility to the Department. Based on changes in Veteran demographics, workload patterns, and emergent health care delivery practices, a flexible lease alternative would allow VA to scale real property assets to adapt to changes without committing the Department to long-term obligations.

This project would enhance Veteran health care services in the [City] market. As workload for Ambulatory Services and Procedures and Mental Health Services is projected to increase over the next 20 years, this project is essential to ensure that Veterans are able to access these services in a timely manner. Continuing to be housed in a right-sized and accessible facility would allow optimized VA care delivery, improved Veteran satisfaction, increased team coordination, improved workflows, and improved recruitment and retention for VA staff.

Proposed Schedule Award Lease: [Month year] Complete Construction: [Month year] Activation/Occupancy: [Month year]

Impact of Care via Telehealth

As with all new, build-to-suit clinical leases, telehealth will be a major design consideration. In general, the PACT model includes telehealth elements that allow for both communication and consultation with patients who are remote, as well as with specialty physicians located at other treating facilities. Today, it is standard practice to include some dedicated telehealth rooms in facilities, along with making other exam spaces telehealth ready. As this project moves through design, measures will be taken to ensure that the latest telehealth standards of care are incorporated, to extend access to more patients and allow for consults with more remote specialty care providers.

INTERNAL INFORMATION

Current Lease Numbers XX

Scoring Result XX.XX%

Projected Savings Source: LCAP Projections (Use data from Column BQ)

N/A

Risks/Issues/Concerns N/A

Attachments

✓ Received �� Not Required ? Missing

❏ Prospectus ❏ Housing Plan ❏ Delineated Area Map ❏ Scoring ❏ Prospectus Rate

Levelization Report

❏ PCPG

❏ Move & Rep Cost Model ❏ Signed OA ❏ Parking F&D ❏ Lease Project Workbook

❏ Data Sheet ❏ Site Cost Justification ❏ Cost Benefit Analysis